Performance of investment funds 2018Nov

Continuing decline in the performance of non-money market funds
The annual performance of non-money market funds remains negative in November 2018 (-2.6% after -3.0% in October). Almost all categories are in negative territory. In particular, equity funds (-6.3% after -7.2%), employee savings funds (-3.7% after -4.0%) and mixed funds (-3.6% after -3.9%) continue to suffer from the downward trend in the equity markets. Only the performance of other funds, supported by that of real estate funds, is still slightly positive (+1.0% after +0.9%).
The performance of money market funds is stable at -0.25% on an annual basis.
Annual performance of Investment Funds by subsectors (a)
(percent, outstanding amounts: EUR billion)
2015 2016 2017 Oct- 2018 Nov- 2018
Net asset
Nov- 2018
NON MONEY MARKET FUNDS 5.1 3.2 5.9 -3.0 -2.6 1,227
Equity funds (b) 10.0 3.6 11.9 -7.2 -6.3 312
of which: ETF (c) 5.7 5.6 12.3 -4.1 -2.3 37
Bond funds (b) 0.9 2.7 0.6 -0.9 -1.3 271
Mixed Funds (b)(e) 3.0 2.6 4.2 -3.9 -3.6 329
Other funds (d) (f) 6.5 4.0 6.1 0.9 1.0 315
of which employees' savings funds 6.9 3.6 6.7 -4.0 -3.7 126
MONEY MARKET FUNDS 0.18 0.02 -0.23 -0.25 -0.25 343
Source: Banque de France
(a) Annual performance net of management fees but before deduction of entry and exit fees commissions (cf. methodology).
(b) Except employees' savings funds (which are included in "Others funds")
(c) Exchange Trade Fund
(d) Employees' saving funds, real estate funds, Private equity funds, formula-based funds, hedge funds
(e) The term "mixed funds" replaces the term "diversified funds", AMF category that has been deleted since 31/12/2017; the criterion for classification remains the same.
(f) Outstanding amount and performance of real estate funds are taken into account as of June 2016
Annual performance of equity, bond and mixed funds
In percent
Performance of Non-MMF funds and employee saving funds (a)
In percent
Performance of equity funds (a)
In percent
Performance of bond funds
In percent
Performance of MMF funds (a)
In percent
Source: Banque de France, Barclays
(a) Annual performance net of management fees but before deduction of entry and exit fees commissions (cf. methodology).
Additional information
The different categories of funds under review are defined by the Autorité des Marchés Financiers (AMF - French Financial Markets Authority). The classification of each fund is based on its real risk exposure. The definition of the exposure and the risk thresholds for each category are developed in AMF Instructions 2011-19, 2011-20 and 2011-21.
The Stoxx 600 index comprises 600 companies residing in 18 European countries.
The Barclays index comprises sovereign and quasi-sovereign bonds, corporate bonds and asset-backed securities. It includes securities denominated in 24 currencies, issued from developed and emerging markets. The rating of the securities is "investment grade" with residual maturity over one year.
The performance of these indexes is measured as the total return (price variation and reinvested dividends/coupons).
More information on: methodology, long series, calendar

All statistical time series published by the Banque de France can be accessed on Webstat Banque de France

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STAT INFO - November 2018
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Financial overview of Investment Funds-France

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Performance of investment funds
  • Published on 01/18/2019
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Published on Friday, January 18, 2019